Al-Najjar, Nabil I.; De Castro, Luciano - In: Journal of Economic Theory 150 (2014) C, pp. 642-667
unique sufficient set of parameters such that the preference ranks acts according to their expected utility given the … parameters. Parameters are characterized in terms of objective frequencies, and can thus be interpreted as objective … probabilities. By contrast, uncertainty about parameters is subjective. The preferences for which the above results hold are only …